20th Nov 2024 18:09
ValiRx PLC - Essex, England-based life sciences company - Says subsidiary ValiSeek Ltd has granted a six-month extension to Ambrose Healthcare Ltd offered under the exclusive option agreement inked in December 2023 to execute an exclusive sub-license of ValiSeek's VAL401 asset. Ambrose Healthcare now has a further six-month period during which it can choose to exercise the option. VAL401 is in development for the treatment of pancreatic ductal adenocarcinoma, the most common type of pancreatic cancer.
Chief Executive Officer Mark Eccleston says: "This six-month extension was available to Ambrose Healthcare under the terms of the initial agreement and has been exercised to give them further time to complete their funding process."
Current stock price: 1.75 pence, closed 4.3% higher in London on Wednesday
12-month change: down 84%
By Emily Parsons, Alliance News reporter
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